SGB Update Sports & Fitness
Acushnet Raises 2022 Sales Outlook On Robust Second Quarter
Acushnet Holdings Corp. reported second-quarter sales and earnings both easily surpassed Wall Street estimates. The parent of Titleist and Footjoy raised its outlook for sales for the full year while maintaining its profit guidance. David Maher, CEO, said, “The company continues to build momentum.”
Adidas’ Currency-Neutral Sales Climb 4 Percent In Second Quarter
Adidas AG reported second-quarter results that were somewhat ahead of expectations reflecting continued strong momentum in Western markets and a return to growth in Asia-Pacific. However, a slower-than-expected recovery in Greater China led to a significant reduction in guidance for the year. Results were in line with preliminary results issued on July 26.
Compass Diversified’s Q2 Sales Climb 19 Percent
Compass Diversified Holdings reported net sales growth of 19 percent in the second quarter drove record quarterly earnings. The conglomerate raised its full-year outlook given the continued strong performance and PrimaLoft acquisition. “The second quarter marks our sixth consecutive quarter of record financial performance, which is a continued testament to the strength of our management […]
Winmark Announces Governance Changes
Winmark Corp. announced that Paul C. Reyelts had informed the company of his decision not to stand for re-election to its Board of Directors at its next annual shareholder’s meeting in April 2023.
JD Sports Appoints New CEO
JD Sports appointed Régis Schultz as its new CEO. Schultz was president of retail for Dubai-based Al-Futtaim Group since 2019.
Under Armour Lowers FY Earnings Guidance On Margin Contraction
Under Armour, Inc. reported first-quarter results that matched profit expectations and slightly topped on revenue. The company maintained its full-year revenue outlook but reduced its earnings outlook amid continued gross margin pressures. On an adjusted basis, EPS is expected in the range of 47-to-53 cents a share compared to the previous expectation of 63-to-68 cents.
Big 5’S Q2 Sales Drop Against Challenging Comparisons
Big 5 Sporting Goods Corp. reported same-store sales fell 22.3 percent in the second quarter ended July 3 against tough comparisons in the year-ago quarter. Sales were below company guidance but both earnings and sales surpassed any pre-pandemic second quarter.
APL To Open Store In New York City
APL, the Los Angles-based sneaker upstart also known as Athletic Propulsion Labs, is opening its first store in New York City, in Soho, according to TheRealDeal.
PepsiCo Invests In Fitness Energy Drink Maker Celsius
PepsiCo announced a $550 million investment in energy drink maker Celsius Holdings as part of a long-term distribution deal.
Gaia’s Q2 Revenues Improve 7 Percent
Gaia, Inc.’s results for the second quarter ended June 30 marked its eighth consecutive quarter of positive earnings and EBITDA, with Q2 EBITDA margins over 20 percent.
3STEP Sports Acquires Wildfire Volleyball Academy
3STEP Sports acquired Wildfire Volleyball Academy for its volleyball division. Founded in 2004 by Ore Pablos, Wildfire Volleyball Academy has 14 national and 13 state teams and more than 300 girls in its training program.
JD Sports Sells Footasylum To Germany’s Aurelius
JD Sports sold Footasylum to German private equity firm Aurelius Group for an enterprise value of about £37.5 million ($38 million), less than the £86 million pounds ($102.9 million) price it paid for the chain in 2019.
Xponential Fitness Signs Master Franchise Agreement In Japan For CycleBar
Xponential Fitness Inc. has signed a Master Franchise Agreement in Japan for CycleBar.
Golf Canada To Relocate Headquarters To Caledon
Golf Canada and Osprey Valley announced a partnership where the organization will relocate its corporate operations to TPC Toronto at Osprey Valley in Caledon, Ontario.
